Wire-wound and molded power inductors that smooth current in the multiphase voltage regulators feeding accelerators and CPUs. AI boards raise the count per system, and high-current high-reliability parts sit with a few magnetics makers. Tight supply slows board power conversion.
A sustained tight read means demand for high-current server-grade power inductors is running ahead of what the magnetics makers can build, so boards wait on the parts that feed their voltage regulators rather than on the silicon itself. Because AI boards multiply the inductor count per system, a small rise in accelerator builds pulls hard on this component. Relief arrives only as magnetics capacity for high-reliability parts qualifies and expands, over quarters rather than a single order cycle.